First Third Company depreciates an asset with a cost of $55,000 over 10 years using the straight-line method of depreciation and the yearly depreciation expense is $4,000, what is the estimated salvage value of the asset?
A)$5,000
B)$10,000
C)$15,000
D)$20,000
E)$20,375

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The Answer of First Third Company depreciates an asset with a cost of $55,000 over 10 years using the straight-line method of depreciation and the yearly depreciation expense is $4,000, what is the estimated salvage value of the asset?
A)$5,000
B)$10,000
C)$15,000
D)$20,000
E)$20,375

First Third Company Depreciates an Asset with a Cost of $55,000